Tuesday, January 12, 2016

TSLA Chart - 01/12/16

Tesla has dropped significantly over the past couple of weeks, bouncing off a true and tested support line near the $203 mark. This level has been tested and held four times over the past year. This possibly presents us with a buying opportunity as this level, with a stop loss at or near $200.

AA Chart - 01/12/15

Alcoa stock has lost about 20% of its value in the past few days, but seems to be bouncing off key support at the $8.00 level. If this support hold, the stock officially forms a triple bottom at this level, presenting itself as a great buying opportunity. Investors/traders should keep a tight stop loss at 7.85 or 7.75 just in case the support breaks!

GRPN Chart - 01/12/15

Groupon has been having a rough few days, but bounced off a key support level yesterday ($2.57). Another test and bounce off this level would present as a buying opportunity, with a stop loss at $2.50 to limit losses.

Monday, January 11, 2016

AAPL Chart - 01/11/2016

After recognizing a short term wedge in Apple’s stock, I correctly predicted a drop in price back in mid December (here). Now we need to go back to a two-year chart to find some key support levels. It seems that the stock bounced off support at around $97. If this level fails to hold, we can expect a drop to $90, as seen in the below chart.

Friday, January 8, 2016

BBRY Chart - 01/08/16

BBRY had a hard time breaking above recent highs at $9.40, and has reversed sharply in the last couple of weeks. In the short term, traders can expect support off of $7.50, as the stock seems to be forming a rising trendline on its 3 month chart.

GPRO Chart - 01/08/16

GPRO closed just above a key support level yesterday. Is is VERY important that this level holds, as a drop below 16.89 on heavy volume could drive the stock towards its 52 week low of $15.90.

VRNG Chart - 01/08/16

After presenting some promising technical strength over the past few weeks, making $3+ seem  very likely, VRNG reversed and now seems to be on a well defined downward channel. As I argued in my Seeking Alpha article here, it is my opinion that the stock is significantly undervalued at these levels, and present a very solid buying opportunity for patient investors.

MSFT Chart - 01/08/16

MSFT had a rough day yesterday, closing just below a key support area, and opening the gate for a possible gap close down to the $48 level. The stock has a recent history of closing gaps before continuing upwards, as seen on the chart below.

Thursday, January 7, 2016

AVP Chart - 01/07/16

Ever since I wrote my overly optimistic piece on AVP for Seeking Alpha here, the stock has been tumbling. In my defense, my article was written on the premises of management making smart decisions to cut costs and draw out shareholder value, which hasn't happened. I still believe AVP could do very well under the right leadership, but this blog is about technicals and not fundamentals, so here you go:
The next support level for the stock is at $2.50, which is also its all time low. I am almost certain the stock will retest this level in the next few days. Once it does, I believe it might present a nice short term buying opportunity, as AVP has a habit of bouncing off key levels a few times before breaking them. So, a nice short term play could be shorting at $3, covering at $2.50ish, going long at $2.50ish, and selling at $2.80ish. That is just my two cents… as always, place stops to protect your capital!

ARIA Chart - 01/07/16

I recently said here that failing to hold $5.80 would be very catastrophic for ARIA, and today’s price action has proved that to be true. The stock is now sliding towards $5, which is the next key support point. Unfortunately for longs, the next key support level after $5 is at its all time low of $2.15. A short position is this stock could be a safe bet below $5 until it bounces off some newfound support. As always, place stop losses!

SUNE Chart - 01/07/16

It is very important that SUNE holds its support at $2.80, as failing to do so could send the stock tumbling further down without any support. The stock bounced back just above this support level today, but given recent market trends, this key level might be retested soon. Additional bounces off this level could present a nice buying opportunity, with tight top losses just below $2.80.

MY SA Article: Chipotle's E. Coli Response Might Hurt Shareholders More Than E. Coli Itself